Market is 'stretched': Strategist

Several Federal Reserve officials are set to speak this week, and investors are likely to watch for indications about the Fed’s next move in the rate-cutting cycle. Tematica Research CIO Chris Versace joins“We've got about a dozen Fed speakers this week, including the big dog Fed chair Powell on Thursday and everybody is trying to figure out, we've got two meetings left in the balance of the year.

The analyst notes the market is “stretched," saying “the big question to me going forward is if earnings expectations continue to slow for the second half of the year compared to the first half, it means the market's even more expensive and then we have to start looking forward.” Um You know, if we take a look at some of the data we got today, the S and P Global Flash PM I it says the employment market weakened for the second consecutive month.

Uh The strategist David Rosenberg, Chris telling clients in a note this morning that a forward pe multiple of 21.5 is egregious.Uh I have been saying that it is stretched, you know, if we just look on this year alone, it's trading, you know, coming into this week 23.4 times forward, something like that.The big question to me going forward though, Josh is, you know, if earnings expectations continue to slow for the second half of the year compared to the first half.

And if that happens, then we have to reques uh what the fed may do between now and the end of the year.If you look at the flash PM, I report out this morning for September, the election and concerns it was all over that report.Uh and then finally, just earnings growth and Chris, I mean, you know, you mentioned a number of, of potential challenges there.

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